China’s benchmark Shanghai Composite Index (000001.SH) lost 0.18% on Friday, while the Shenzhen Component Index (399001.SZ) fell 0.24%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.08% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.22%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China Approves First Neutralizing Antibody Therapy for Covid-19
Brii Biosciences’ shots are the first treatment of their type to be approved in China after showing an 80% reduction in hospitalizations and deaths
· China Raises Reserve Requirement for Banks’ Forex Deposits Amid Yuan’s Surge
Central bank bumps reserve ratio to 9% from 7% in the second increase this year after 14 years of no change as authorities try to rein in currency’s rise
· China Pacific Insurance to Tap Life Insurance Business in Hong Kong
Joining a crowded HK life insurance field is part of a strategic expansion in the booming Greater Bay Area
· China Bars 106 Apps From New Downloads Over Data Violations
Affected apps include review platform Douban, karaoke provider Changba, used-goods trading site Aihuishou and Kankan News
· Energy Insider: Wind Power Giant Longyuan Cleared for Backdoor Shenzhen Listing
Huadian’s new-energy unit gets $315 million investment from China Life; Qinghai plans salt lake industrial base; Sinopec opens 1,000th battery-swap station
· Hong Kong Immigration Officials Probed Over Gifts From Evergrande Director
The two men admitted receiving food hampers but denied having business links with the group’s Hong Kong general manager, their department said
· Darkest Days of Car Chip Shortage Have Passed, Industry Group Proclaims
Improved supply allowed production to grow 14% month-on-month in November, the China Passenger Car Association says
· Oppo to Unveil First Self-Developed Chip
Shenzhen-based smartphone maker teased the chip’s launch at an event next week
· China Tightens Rules on Cutting Prison Terms Short After Outcry Over ‘On-Paper Sentences’
Guidance from top judicial and law enforcement bodies demands stricter management and review of criminals’ parole applications to ensure justice
· Opinion: Is Hong Kong Ready for Chinese Tech Stocks Exiled From New York?
Maintaining the status quo on where shares are listed will benefit China’s tech industry, and ultimately, China-U.S. relations
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This article was generated by Caixin Automation.
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